WELLINGTON.

Daily Southern Cross, Volume XXIII, Issue 3017, 28 March 1867, Page 4

WELLINGTON.

Owing to recent arrivals, almost every description of goods may be said to be in considerable excess of our present wants, and will have to be held over to avoid sacrifice. More than ordinary dulneas, arising from various onuses, appears to have been the prevailing feature of the past month's business transact tions, and goods hang upon hand. There is a general disinclination on the part of retailers to lay in any amount of stock beyond immediate wants, and no re* duction of prices seems of sufficient inducement to make them depart from this cautious proceeding. It is therefore difficult to quote prices with any degree of accuracy, but, if the sales by auction may be taken as a test of value, a general decline has taken place, and in most instanoes goods submitted to the hammer have been quitted at a figure that leaves no room for congratulation on the part of the importers. Much of this is owing to the present heavy rates of Customs duties, which now that old stocks are becoming exhausted begin to tell to severely upon trade, and it will take some time and » considerable degree of scarcity to reconcile purchasers to pay the enhanced valueß consequent upon their imposition. — Independent, March 19.